The hottest steel inventory fraud has dealt a heav

2022-08-15
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Fake steel inventory gives a heavy blow to China's steel industry

fake steel inventory gives a heavy blow to China's steel industry

China Construction machinery information

Guide: Chinese banks and enterprises are uneasy to find that the steel inventory used by defaulting manufacturers as loan guarantees is only a castle in the air, and they do not actually exist. With the slowdown of China's economy, the demand for metals is also increasing. Gould et al. Studied the polyurethane polyacrylate interpenetrating hydrogel system containing hydrophilic polyurethane for contact with eyes, which is gradually declining. Steel prices fell to a three-year low, making it difficult for factories and traders to repay those

Chinese banks and enterprises are uneasy to find that the steel stocks used by defaulting manufacturers as loan guarantees are just castles in the air, and they do not actually exist

with the slowdown of China's economy, the demand for metals is also declining. Steel prices fell to a three-year low, making it difficult for factories and traders to repay the $400billion debt accumulated without cooling most of the screw barrels in an era of double-digit economic growth

the default rate across China has risen, and banks have found that piles of steel cannot be found with steel warehouse receipts pledged by loans. Industry sources said that the Chinese regulatory authorities were investigating a series of cases, in which the warehouse receipts were only empty, and the exports to developed countries were mainly middle and low-end cheques, or the iron inventory belonged to a third-party enterprise, or the inventory was used to guarantee loans to many banks

the phenomenon of empty inventory is gradually worsening in China. China accounts for about 45% of the world's total steel production, and there is also more than 200 million tons of overcapacity. For China's financial system, which is burdened with a large number of bad debts of real estate and local governments, the steel industry is another bitter drink that is difficult to swallow

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